HP Inc. stock trades under the ticker HPQ & has recently shown bullishness that traders & investors should research further.
HPQ stock closed at $38.75/share on 5/27/2022.
HP Inc. HPQ Stock’s Technical Performance Broken Down
HPQ Stock Price: $38.75
10 Day Moving Average: $36.53
50 Day Moving Average: $37.38
200 Day Moving Average: $33.92
RSI:57.1
MACD: -0.215
HPQ completed a bullish MACD crossover on Friday, while gapping up 5.38% & breaking out above its 50 day moving average.
Recent trading volumes have been slightly above average compared with the year prior, and their RSI is still in the mid-high neutral range.
With only 2.3% between HPQ stock’s 10 & 50 day moving averages, there looks to be more bullish momentum to come in the near-term.
They will need to test & break above the $39.84 resistance level, before going on to test $41.47/share.
HP Inc. HPQ Stock As A Long-Term Investment
Long-term oriented investors will like HPQ stock’s 6.71 P/E (ttm).
They recently reported 8.8% Quarterly Revenue Growth Y-o-Y, with 1.7% Quarterly Earnings Growth Y-o-Y.
Their balance sheet is worth taking a closer review of before investment though, as they have a reported $3.4B in Total Cash (mrq) & $8.35B in Total Debt (mrq).
HPQ stock pays a 2.26% dividend yield, which appears sustainable in the long-term as their payout ratio is 15.14%.
88.9% of HPQ stock’s outstanding share float is owned by institutional investors.
HP Inc. HPQ Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to profit from HPQ stock’s price movements, while protecting themselves from broader market volatility.
I am looking at the contracts with the 6/17 expiration date.
The $37, $37.50 & $38 calls are all in-the-money & have sufficient levels of open interest.
The $41, $40 & $39 put options are also in-the-money, with the former being the less liquid of the three (261 contracts vs. 16,392 contracts for the other two strikes).
Tying It All Together
HPQ stock offers many unique characteristics that may make it a good addition to your porfolio.
Investors will like their valuation metrics & dividend yield, however they may want to research their balance sheet further before making an investment.
Traders will like their current momentum, as well as the liquidity of their options, and weekly expirations.
Overall, HPQ stock is worth taking a closer look at, to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OF HPQ STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***